GE Vernova Inc. $GEV Stock Sold by Jackson Square Capital LLC

Jackson Square Capital LLC lessened its stake in shares of GE Vernova Inc. (NYSE:GEV) by 38.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,736 shares of the company’s stock after selling 3,652 shares during the quarter. Jackson Square Capital LLC’s holdings in GE Vernova were worth $5,452,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. B. Metzler seel. Sohn & Co. AG increased its holdings in shares of GE Vernova by 37.7% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 23,080 shares of the company’s stock valued at $27,116,000 after acquiring an additional 6,313 shares during the period. Citizens Financial Group Inc. RI acquired a new stake in GE Vernova during the 2nd quarter worth $8,337,000. Sapient Capital LLC grew its position in GE Vernova by 31.4% during the 2nd quarter. Sapient Capital LLC now owns 76,038 shares of the company’s stock worth $89,372,000 after purchasing an additional 18,188 shares during the last quarter. Processus Wealth & Capital Management LLC purchased a new position in GE Vernova during the 2nd quarter worth $2,699,000. Finally, Field & Main Bank acquired a new position in GE Vernova in the second quarter valued at $3,018,000.

GE Vernova Stock Performance

Shares of NYSE:GEV traded down $5.62 during midday trading on Monday, hitting $915.58. The stock had a trading volume of 1,095,854 shares, compared to its average volume of 2,630,559. The company has a market capitalization of $243.85 billion, a PE ratio of 26.24, a P/E/G ratio of 3.19 and a beta of 1.14. The stock has a 50 day moving average price of $962.80 and a two-hundred day moving average price of $1,002.38. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. GE Vernova Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The firm had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%. The company’s revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.86 earnings per share. As a group, equities analysts predict that GE Vernova Inc. will post 15.04 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Tuesday, October 27th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, October 27th. GE Vernova’s payout ratio is currently 5.72%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GEV. Mizuho upped their target price on shares of GE Vernova from $913.00 to $949.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Wall Street Zen lowered GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Glj Research started coverage on GE Vernova in a report on Monday, September 14th. They set a “sell” rating and a $470.00 price target on the stock. Weiss Ratings restated a “buy (b)” rating on shares of GE Vernova in a research report on Tuesday, July 21st. Finally, President Capital upped their price objective on GE Vernova from $1,368.00 to $1,398.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,164.87.

GE Vernova Profile

GE Vernova Inc (NYSE: GEV) is an energy technology company focused on helping generate, transmit, store and deliver electricity. The company serves utilities, power producers, grid operators, commercial and industrial customers, and other energy-sector participants worldwide.

Its business is organized around three primary areas: Power, Wind and Electrification. Power provides technologies and services for gas and steam power generation, hydropower, nuclear power and other energy systems.